Despite the initial delay,no thanks to #SARs protest and COVID-19 pandemic, a real estate development company,Messrs Brains and Hammers, has delivered N5.9 billion Coopeast Beach Resort in Lagos at the weekend.
The housing project, which its construction started in August 2019, was built in partnership with the Cooperative Societies of International Oil and Gas Companies -Shell and ExxonMobil
It was gathered that the project, comprising 101 units of mixed housing development, had a 50 percent buy-in of Shell Cooperative Society; 20 percent buy-in of ExxonMobil Cooperative Society and 30 percent buy-in from individuals.
A breakdown of the housing units include 70 terraces; a block of six flats comprising three-bedroom each; 14 fully detached houses and eight semi-detached houses.
An impeccable source from the company disclosed that all the apartments have been sold out.
The estate, which sits on a three- hectare land space (30,000 sqm), is also fitted with a gym, water treatment plant, six transformers, swimming pool, recreation area and a mini-mall.
At the inauguration and official handing over of the keys to the Cooperative Societies, the Chief Operating Officer (West,) Brains and Hammers Plus, MrOmoOsobase, described the project as a “testament to the three fundamental tenets of the company – to be the partner of choice by private and public organisations; develop projects that meet best global practices and provide a sense of investment and humane comfort for our clients.
“When we announced this first-of-its-kind real estate development partnership with the cooperative societies of Shell and ExxonMobil in the third quarter of 2019, we were very clear on the task ahead and the audacity of our ambition. This ambition was solidly rooted in our determination to deliver not just high quantity, but quality housing units built to the best global practice and at a price that would not break the bank despite the unique location.”
“Despite the onslaught of COVID-19 and the very volatile economic situation in the country between 2020 and today, we have weathered the storm to deliver this project below the projected 24 months construction timeline. Today, we have commissioned units of three-bedroom flats, four-bedroom terrace Duplex, four-bedroom Semi-Detached Duplex, and five bedroom Detached Duplex with BQ’s,” Osobase said.
In his opening remarks, Chairman of Brains and Hammers, MrAdebolaSheidu, noted that the firm is on a mission to reshape the residential and commercial real estate landscape in Nigeria.
He said the company has proven this with 10,000 completed projects in Abuja, Kano, Lagos, and the Oyo States.
Sheidu further stressed that the Kano Economic City and the Oyo State Agri-business industrial hub projects are two projects that speak to the importance of Public-Private Partnerships for the company.
“I am proud of our work on this project, and my sincere thanks to our partners, Shell, and ExxonMobil cooperatives. They not only trusted in our ability but showed a great sense of belief in our resolve to complete this project in record time despite the pandemic and economic challenges of the last two years,” he said.
The President, Shell Cooperative, Martins Amos, expressed his delight with the project and showered encomium on Brains and Hammers for the professionalism displayed while delivering this project.
“Despite the economic challenges, COVID-19, and the hitches that came with the End-SARS protest, I am delighted to stand here today to celebrate the commissioning of this project. Collectively, we achieved this feat on the back of a partnership built on trust and we are proud to have been a part of it,” he said.
CoopEast Resort Estate by Brains and Hammers provides residents with a serene beach view, private garden areas, a dedicated transformer to aid the 24-hours electricity supply, a fully independent water supply and treatment facility and a 24-hour help desk and residents-only-clubhouse amongst other facilities.
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